Cast Elastomers Market Share – Size 2020, Trends, Growth, Analysis, Opportunities, Business Outlook and Forecast 2023

Cast Elastomers Market Share – Size 2020, Trends, Growth, Analysis, Opportunities, Business Outlook and Forecast 2023

Cast Elastomers Market is Predominantly Driven by the Automotive Industry; MRFR Reveals the Forecast for 2018–2023
Cast Elastomers Market: Information by Type (Hot Cast and Cold Cast), Application (Automotive, Industrial, Mining, Oil & Gas, Sports & Leisure, Agricultural, and Others), and Region (Asia-Pacific, North America, and Europe)—Forecast till 2023

Market Research Future Published a Half-Cooked Research Report on Cast Elastomers Market Research Report – Forecast to 2023

Cast Elastomers garner a vast market prominence due to their advantageous properties such as high durability, excellent flexibility, exceptional tensile strength, and chemical & impact resistance. Hence, they are used in automotive, industrial, mining, agricultural, and oil & gas applications. The Global Cast Elastomers Market is witnessing a constant rise in the revenues.

Augmenting demand for Cast Elastomers in industrial applications is a major driving force pushing the market growth. Besides, the growing consumption of polyurethane Cast Elastomers in the making of industrial bearings & bushings, roller coating, belt scrapers, container linings, casing components, and heavy load rollers, escalate the market growth to furthered height. 

According to Market Research Future (MRFR), Global Cast Elastomers Market valuation is estimated to ascend enormously by 2023, registering a phenomenal CAGR throughout the assessment period (2017 to 2023). The increased demand for Cast Elastomers in the manufacturing of automotive parts and industrial components such as industrial bearings drives a considerable share of the market.

Augmented demand for lightweight vehicles drives the demand for Casting Elastomers to an extent. Hence, production and sales trends in the automotive industry impact the growth of the Cast Elastomer Market. Additional factors that are substantiating the market growth include growing population and the rapidly improving global economy, which is increasing consumer’s purchasing power. 

Moreover, the trend of lightweight products that have influenced the aircraft manufacturing industry has further augmented the demand & uptake of Cast Elastomers in the aerospace sector as well. On the other hand, price volatility and the demand-supply gap in raw material required for the production of Cast Elastomers are impeding the growth of the market.

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Cast Elastomers Market – Segmentation

The analysis has been segmented into three major dynamics.

By Type : Hot Cast and Cold Cast

By Application: Automotive, Industrial, Mining, Oil & Gas, Sports & Leisure, Agricultural, and others.

By Regions: Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.

Global Cast Elastomers Market – Competitive Analysis

Global Cast Elastomers Market appears to be highly competitive and diversified with the presence of many well-established players. Innovation, Product Launch, M&A activities, along with brand reinforcement, remain the key trends for leading players in the market.

Major Players: 

Players Leading the Global Cast Elastomers Market include Era Polymers Pty Ltd (Australia), Covestro AG (Germany), Huntsman International LLC (US), Mitsui Chemicals Inc. (Japan), Chemline Inc. (US), BASF SE (Germany), Tosoh Corporation (Japan), Accella Corporation (US), Lanxess (Germany), Wanhua Chemical Group Co. Ltd. (China), COPCI SAS (Germany), Synthesia Group (Spain), and Chemix SRL (Italy), among others. 

Industry/ Innovation/ Related News:

August 20, 2019 —- Polytek Development Corp. (the US), a leading global manufacturer of specialty polymers, announced the acquisition of Stone Coat Countertops (the US), a supplier of high-quality epoxy coating systems, casting systems, and related accessories. Polytek’s portfolio includes polyurethane elastomers and casting resins, silicones, epoxies, and latex. The acquisition brings Stone Coat’s rich educational methods and platforms to Polytek’s consumer brand portfolio and expands its ability to offer a diverse set of casting solutions.

Browse Key Industry Insights spread across 100 pages with 35 market data tables & 12 figures & charts from the report, “Cast Elastomers Market Information: By Type (Hot Cast and Cold Cast), Application (Automotive, Industrial, Mining, Oil & Gas, Sports & Leisure, Agricultural, and Others), and Region (Asia-Pacific, North America, and Europe) – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents

Global Cast Elastomers Market – Regional Analysis

Asia Pacific dominates the Global Cast Elastomers Market, witnessing the large-scale consumption in the steel and automotive industries. Due to the increasing demand for lightweight components in the automotive & aerospace sectors, the region is projected to retain its dominance throughout the assessment period. Countries such as China, Japan, and India are the major players in this market. Heading with the continuous rise in the automotive industry in this region, the APAC cast elastomers market would continue fetching major demand in the future as well.

North America stands second in the Global Casting Elastomers Market, following the APAC market closely. Aircraft and the automotive industry are the two dominant segments consuming a significant share of the total demand for Cast Elastomers in North America. Growing demand from the Automotive Industry is driving the growth of the regional market. Besides, the growing use of elastomers in mining equipment drives the growth of the regional market.

The US, backed by its large numbers of automotive production plants, accounts for the leading market for Cast Elastomers in North America. Furthermore, the increased consumption of low-density materials in electrical & electronics, medical, and other industries in the region drives a considerable share of the market. Led by the growing investments in the end-use sectors, North America Cast Elastomers Market size is predicted to increase significantly.

Europe is emerging as a promising market for Cast Elastomers. The market demand is majorly pulled by automobile industries in the region for making lightweight components. Simultaneously, the implementation of new rules and regulations proposed by the government to promote the utilization of lightweight and renewable resins across the industries has provided an impetus to the market growth to an extent. Europe is projected to acquire a considerable share of the Global Cast Elastomer Market during the review period.

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